Joint Pain Injections Market
Number of pages: 100 | Report Format: PDF | Published date: March 06, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 4.66 billion |
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Revenue Forecast in 2031 |
US$ 8.97 billion |
|
CAGR |
7.5% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023-2031 |
|
Historical Year |
2021 |
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Segments Covered |
Product, Joint Pain Type, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global joint pain injections market was valued at US$ 4.66 billion in 2022 and is expected to register a revenue CAGR of 7.5% to reach US$ 8.97 billion by 2031.
Joint Pain Injections Market Fundamentals
Numerous traumas or diseases can result in joint pain and associated issues, such as muscle stiffness, bursitis, and arthritis. Autoimmune conditions, such as rheumatoid arthritis, chondromalacia patellae, crystal development in the joint, gout, and osteoarthritis, are the most common causes of joint pain. Swelling, warmth, soreness, redness, and discomfort with movement are symptoms of joint pain. Common joint pain injections include corticosteroids, hyaluronic acid, and platelet-rich plasma.
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Joint Pain Injections Market Dynamics
Joint pain injections are medical treatments that relieve joint pain symptoms caused by arthritis, bursitis, and tendonitis. Injections are a popular treatment option as they can provide immediate and long-term relief with little risk or discomfort. Corticosteroids, hyaluronic acid, and platelet-rich plasma are common joint pain injections (PRP).
Demand for joint pain injections is increasing due to an aging population, sedentary lifestyles, and rising obesity rates. Advancements in pain management technologies, such as developing new injection techniques, propel this market forward. The growing demand for minimally invasive procedures and the increasing number of orthopedic surgeries are driving the growth of this market.
Despite the market's expansion, several challenges could restrict its progress, including the high cost of joint pain injections, as many patients cannot afford the treatment. Furthermore, the need for more skilled medical professionals to administer the injections is a significant challenge, requiring specialized training. Furthermore, the availability of generic drugs is challenging as it reduces market profitability. The market faces challenges from an increased focus on patient safety and the implementation of stringent regulations. Furthermore, several manufacturers and distributors actively engaged in research and development activities is a significant challenge, as it increases market competition.
Joint Pain Injections Market Ecosystem
The global joint pain injections market has been analyzed from four perspectives: product, joint pain type, distribution channel, and region.
Joint Pain Injections Market by Product
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Based on product, the global joint pain injections market has been segmented into hyaluronic acid, corticosteroid, platelet-rich plasma injections, and others.
The hyaluronic acid segment leads the global joint pain injections market owing to its high therapeutic effect and low cost compared to other injections. Hyaluronic acid injections are becoming increasingly popular for treating joint pain. This is a naturally occurring substance in the body that aids in joint lubrication and cushioning. It helps to reduce inflammation, improve joint mobility, and provide pain relief when injected into the joint, driving segment revenue growth. The main advantage of hyaluronic acid injections is that they can provide long-term pain relief without requiring surgery. Furthermore, hyaluronic acid injections are relatively safe and have few side effects, making them a popular choice for many patients. Hyaluronic acid injections are relatively inexpensive compared to other treatments, contributing to their growing popularity. While the injections may not be covered by insurance, the cost is typically much lower than that of surgery or other treatments. As more people become aware of the benefits of hyaluronic acid injections, demand is expected to rise.
Joint Pain Injections Market by Joint Type
Based on joint type, the global joint pain injections market is segmented into knee and ankle, hip, shoulder, elbow, and others.
The knee and ankle segment leads the global joint pain injections market owing to the increasing prevalence of osteoarthritis, rheumatoid arthritis, and others. Demand for knee and ankle joint pain injections is rising across the globe owing to the rising prevalence of chronic joint pain, which affects people of all ages due to various factors, including age-related wear and tear, injury, and inflammation. Injections relieve joint pain quickly and effectively and can target specific body areas. Injections are also relatively safe, with few risks or side effects. Injections can relieve pain and inflammation while delivering medications directly to the affected joint. Furthermore, they can provide long-term pain relief and improve joint function.
Injections are also commonly used in the shoulder, elbow, and wrist joints. These joints are also susceptible to arthritis and other joint-related conditions, and injections can relieve pain and improve movement. Additionally, they are used in the hip and spine joints. Arthritis and other joint-related conditions frequently affect these joints, and injections can relieve pain and improve joint function. Furthermore, injections can directly deliver medications to the affected joint.
Joint Pain Injections Market by Distribution Channel
Based on the distribution channel, the global joint pain injections market has been segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment leads the joint pain injections market owing to increasing patient footfall in hospitals for diagnosis and treatment, rising numbers of hospitals, and a growing number of skilled physicians.
Joint Pain Injections Market by Region
Based on region, the global joint pain injections market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominated the global joint pain injections market in terms of revenue share. The large share of North America in the global market can be attributed to the increasing prevalence of osteoarthritis, rheumatoid arthritis, and other orthopedic diseases in the region. Additionally, developed infrastructure, an advanced healthcare system, and favorable reimbursement policies are contributing to the development of the North America joint pain injections market.
Joint Pain Injections Market Competitive Landscape
The prominent players operating in the global joint pain injections market are:
Joint Pain Injections Market Strategic Developments
North America and Asia Pacific are the key markets for joint pain injections.
The rising geriatric population, increasing prevalence of orthopedic diseases, and increasing numbers of pipeline products are driving the global joint pain injections market.
The global joint pain injections market is expected to register a revenue CAGR of 7.50% during the forecast period from 2023 to 2031.
The global joint pain injections market is expected to reach US$ 8.97 billion by 2030.
Anika Therapeutics, Inc., Bioventus Inc., Ferring B.V., Allergen Plc, and Pfizer Inc are among the top market players.
*Insights on financial performance are subject to the availability of information in the public domain